This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7643441.stm
The article has changed 34 times. There is an RSS feed of changes available.
Previous version
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Next version
| Version 25 | Version 26 |
|---|---|
| US shares rally on bail-out hope | US shares rally on bail-out hope |
| (20 minutes later) | |
| US shares moved ahead strongly after President George W Bush renewed calls for Congress to back the $700bn (£380bn) banking rescue plan. | US shares moved ahead strongly after President George W Bush renewed calls for Congress to back the $700bn (£380bn) banking rescue plan. |
| Although Wall Street saw record falls on Monday after Congress blocked the deal, the main Dow Jones index rose 290 points or 2.8% in morning trading. | Although Wall Street saw record falls on Monday after Congress blocked the deal, the main Dow Jones index rose 290 points or 2.8% in morning trading. |
| Analysts said investors are hopeful a new deal can be agreed this week. | Analysts said investors are hopeful a new deal can be agreed this week. |
| Mr Bush warned that if agreement is not reached, the US economy faces "painful and lasting damage". | Mr Bush warned that if agreement is not reached, the US economy faces "painful and lasting damage". |
| 'Urgent situation' | 'Urgent situation' |
| "We are in an urgent situation and the consequences will grow worse each day if we do not act," Mr Bush said at the White House. | "We are in an urgent situation and the consequences will grow worse each day if we do not act," Mr Bush said at the White House. |
| Why did the bail-out bill fail?Q&A: US $700bn bail-out plan | Why did the bail-out bill fail?Q&A: US $700bn bail-out plan |
| "It matters little what path a bill takes to become law. What matters is that we get a law. | "It matters little what path a bill takes to become law. What matters is that we get a law. |
| "We're at a critical moment in our economy." | "We're at a critical moment in our economy." |
| While the Dow Jones reached 10,652.1 points, the other main Wall Street index - the Nasdaq - had advanced 3.6% to 2,056 points. | While the Dow Jones reached 10,652.1 points, the other main Wall Street index - the Nasdaq - had advanced 3.6% to 2,056 points. |
| On the back of the strong gains, European shares closed ahead. | On the back of the strong gains, European shares closed ahead. |
| The UK's FTSE 100 ended up 1.7%, 83.4 points at 4,902.5 points, France's key index added 2% to 4,032.1 points while Germany's Dax ended 0.4% higher at 5831 points,. | The UK's FTSE 100 ended up 1.7%, 83.4 points at 4,902.5 points, France's key index added 2% to 4,032.1 points while Germany's Dax ended 0.4% higher at 5831 points,. |
| Earlier, Japan's Nikkei index ended Tuesday down 4.1%, while Hong Kong's Hang Seng rose 0.8%. | Earlier, Japan's Nikkei index ended Tuesday down 4.1%, while Hong Kong's Hang Seng rose 0.8%. |
| Analyst Richard Hunter, head of equities at Hargreaves Lansdown stockbrokers, said European investors were hopeful the US would eventually pass the bail-out plan. | Analyst Richard Hunter, head of equities at Hargreaves Lansdown stockbrokers, said European investors were hopeful the US would eventually pass the bail-out plan. |
| "This deal is not dead in the water and there are hopes that when Congress reconvenes it could still go through," he said. | "This deal is not dead in the water and there are hopes that when Congress reconvenes it could still go through," he said. |
There were a number of other key financial events on Tuesday:
| There were a number of other key financial events on Tuesday:
|
| Day of turmoil | Day of turmoil |
| The US rescue plan, a result of tense talks over several days between the government and lawmakers, was rejected by 228 to 205 votes in the House of Representatives. | The US rescue plan, a result of tense talks over several days between the government and lawmakers, was rejected by 228 to 205 votes in the House of Representatives. |
| HAVE YOUR SAYI know we need a strong financial sector, but where is the talk of structural change that's going to prevent recurrence?Neil, California, US href="http://newsforums.bbc.co.uk/nol/thread.jspa?forumID=5425&edition=1&ttl=20080930173757">Send us your comments | |
| About two-thirds of Republican lawmakers refused to back the rescue package, as well as 95 Democrats. | About two-thirds of Republican lawmakers refused to back the rescue package, as well as 95 Democrats. |
| Congress will not meet again until Thursday - after a break for the Jewish New Year - with another vote unlikely before the weekend, the BBC's Jonathan Beale in Washington says. | Congress will not meet again until Thursday - after a break for the Jewish New Year - with another vote unlikely before the weekend, the BBC's Jonathan Beale in Washington says. |
| The House's rejection of the bail-out plan came after a day of turmoil in the US and Europe, with Wachovia, the fourth-largest US bank, being bought by larger rival Citigroup. | The House's rejection of the bail-out plan came after a day of turmoil in the US and Europe, with Wachovia, the fourth-largest US bank, being bought by larger rival Citigroup. |
| Monday also saw the partial nationalisation of Benelux banking giant Fortis by three governments, and UK lender Bradford & Bingley was taken into state ownership. | Monday also saw the partial nationalisation of Benelux banking giant Fortis by three governments, and UK lender Bradford & Bingley was taken into state ownership. |